Enbridge Inc. (NYSE:ENB) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 115,498 shares of the pipeline company’s stock after selling 12,229 shares during the period. Ingalls & Snyder LLC’s holdings in Enbridge were worth $4,160,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ENB. Quilter Plc purchased a new stake in shares of Enbridge in the 1st quarter valued at approximately $293,879,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $25,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Enbridge in the 2nd quarter valued at approximately $26,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Enbridge in the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 1.1 %

NYSE:ENB traded down $0.38 during midday trading on Friday, hitting $34.18. 4,922,505 shares of the company were exchanged, compared to its average volume of 5,355,801. The company has a fifty day simple moving average of $35.10 and a 200 day simple moving average of $34.64. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $72.65 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 3.25 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, equities analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ENB. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus began coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.